1. Pre-approved by a Mortgage Originator/Loan Officer or Banker.
   
2. Discovering your Needs and Wants in a home:
   
1. Location?
   
2. How much to spend?
   
3. How many bedrooms/bathrooms?
   
3. Prospecting through current listings to personally view with your Avenue Realty Realtor®.
   
4. Go on home showings with your Realtor®.
   
5. After finding the right home you will write a Purchase Agreement with your Realtor® (you should also anticipate making a check for your earnest money — which will go towards your closing cost to originate your loan for your home, generally $500-$3000 depending on the price of home).  Earnest money is showing your sincerity toward your new home to the Sellers.  Typically, we will make your Purchase Agreement contingent on a complete Home Inspection. 
   
6. Waiting to see if your Purchase Agreement is accepted by the Sellers of your desired home (if not accepted then you will get your earnest money back—however if accepted earnest money will be deposited into Selling Agents Broker account within 3 business days).
   
7. If buying a condo or townhome then you will be given 10 days to review the association documents.  If you find the association documents acceptable then you continue to move forward in purchasing your new home.  If you don’t find the association documents to your satisfaction then you can retract your purchase agreement and get your earnest money back.
   
8. After your Purchase Agreement is accepted—then comes the Home Inspection (unless you are purchasing new construction).
   
9. If your Purchase Agreement is contingent on a complete Home Inspection you must make an appointment within 3 days of accepted Purchase Agreement to thoroughly examine the home (you should be prepared to pay anywhere between $150-$450 for cost of Inspector—depending on size of home).  We can give you some Home Inspector recommendations; however if you know someone then feel free to contact them for the inspection.
   
10. If the Home Inspection is to your approval—the Purchase Agreement is final—the home is to be yours at the date of closing!!!  If the Home Inspection is NOT to your satisfaction then you can attempt to re-negotiate with the Sellers of the home or retract your offer completely and retain your earnest money.
    
11. Then call your Mortgage Originator to confirm the Home Inspection is complete—so s/he can proceed with your new Loan.  Get your current paperwork together for your Mortgage Originator!
    
12. Insurance for your home or condo/townhome:
    
1. If buying a home contact an insurance agent to purchase homeowners insurance.  Keep in mind you will need to pay for 12 months upfront.  We can give you some Insurance recommendations; however, if you know of someone who sells insurance please feel free to contact them.
   
2. If buying a condo or townhome your monthly association payment normally includes hazard insurance.  We recommend still purchasing renters insurance so that your personal belongings are covered as well.
   
13. Sit back and wait for your date of closing (which is determined on your Purchase Agreement).  In the meantime do NOT make ANY big purchases prior to closing on your new home.  Examples of big purchases to make after closing are; cars, furniture, carpet, major appliances, etc…
    
14. Stay in contact with your Avenue Realty Realtor® and Mortgage Originator until closing!  
    

Remember when buying a new home your Real Estate services are FREE!  However, to generate a new loan your closing cost will range from 2%-3% of loan amount.